Don't delude yourself into believing you are safe for whatever reason. I've said this before and I'll say it again: layoffs are not about cutting the underperformers and saving those who work hard or who have the most experience or who might be the only ones who know how to do something... No. Layoffs are all about the numbers. If your pay is high enough that it will look good to a number cruncher to remove it from payroll, no matter how good you are you'll be gone. It really is that simple.
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@1cnp+1p3Kdb13 wonder what they had to say about the manager to employee ratio...
Pretty positive KPMG is the consulting group being used. They were responsible for a headcount evaluation recently determining where we were overemployed (core finance) and where we had less than was needed (analysts). That came straight from a SVP.
The biggest lie is the whole idea of "Boston Consulting Group". There is no third-party coming up with names. Each org's MD is getting a target. Plain and simple. Everyone loves to add extra drama and mystery into this and make up things like "unbiased third-party to protect against lawsuits" blah blah. Settle down. Holy cr-p.
To the person who said, 'I mean realistically what is the very worst thing they can do? Fire 50 percent of the employees? Even if they do something as extreme as that you still have a 1/2 chance of coming out of the layoff unscathed.' Would you or anyone else want to be in the 50 percent that are left to do all the work?
@sha+1p3Kdb13. You are right - they hired a very expensive consulting firm to make decisions because the EC and higher ups at Schwab are incapable. Lets just have meetings upon meetings to discuss - not allow anyone to make a decision - and hope we move forward
@jqo+1p3Kdb13 lol we know where your head is
@jqo+1p3Kdb13 so in an effort to save money they hired a very expensive consulting firm to............. do what?
@uts+1p3Kdb13 nailed it. there is no "bias" either saying "i got laid off because XX director doesnt like me!"
thats why anyone claiming there havent been any decisions made yet around who or when are living with their head up their a$$. BCG has been crunching the numbers to figure out: who costs money now, and who will cost money in the future. if you have two 57 level folks doing essentially the same job, but one is on the lowest end of the pay range and one is on the higher end who do you think gets cut?
@zue+1p3Kdb13 It was posted by a known troll and deleted by site admins. Judging by some of the follow up posts in this thread — he is back.
If you’re in CTS, I came up with the names. You’re fu---d.
I can say with extreme confidence that BCG of any other consulting group are not coming up with the names of people to cut.
Where did the contractor posts go yesterday
“How does the consulting company create the list? Seems risky to offload that.”
Risky from losing a key personnel perspective, which obviously this company doesn’t care about.
It’s all about $$$. The consulting company reduces risk of lawsuit because they are 1. impartial and 2. good at making sure not too many folks in a particular “protected class” are hit.
@boq+1p3Kdb13 There is formula that they use on an excel sheet containing all employees.
"If your pay is high enough that it will look good to a number cruncher to remove it from payroll, no matter how good you are you'll be gone. It really is that simple."
That's why it's never a good idea to accept a pay raise or a promotion (unless it's title only, no change in comp.)
How does the consulting company create the list? Seems risky to offload that.
Good. This gives me hope that I’m on that list.
i the wish it was voluntary.
Most of the decisions on the final list were made at the SVP level with very minor “input” from the MD level below. So if you’ve ever disagreed with one of them, for example, you’re pretty much screwed.
To further this point, the lists that are generated by the consulting company and HR are given very little wiggle room at the MD/NDA level. So even if you’re a high performer with a great track record, there’s NO guarantee you will be saved if you ended up on one of those lists.
It’s only 5% of the workforce bro, ease up on the dramatics.
I mean realistically what is the very worst thing they can do? Fire 50 percent of the employees? Even if they do something as extreme as that you still have a 1/2 chance of coming out of the layoff unscathed. And even if you are laid off I’m willing to bet that most of us will have a new job lined up and back on our feet within three months anyway. You guys make it sound like an execution.
But, but, but,. . .my boss told me I was safe. He did!